FactSet Reports Results for First Quarter 2024 — Q1 GAAP revenue of $542.2 million, up 7.4% from Q1 2023. — Organic Q1 ASV plus professional services of $2,185.0 million, up 7.1% year over year. — Q1 GAAP operating margin of 34.9%, up approximately 80 bps year over year, and adjusted operating margin of 37.6%, down approximately 70 bps from the prior year. — Q1 GAAP diluted EPS of $3.84, up 9.1% from the prior year, and adjusted diluted EPS of $4.12, up 3.3% year over year. — Fiscal 2024 guidance update: expected ASV plus professional services growth of 5-7%, GAAP revenue growth of 5.5-6%, adjusted operating margin increase of 10-50 bps, and adjusted diluted EPS growth of 6-9%. — FactSet has published an AI Blueprint describing plans to responsibly deploy AI solutions to its clients. FactSet Mercury, launched last week, features a new large language model-based workflow tool for junior

FactSet Research Sees FY24 Adjusted Diluted EPS Growth of 6%-9%.

FactSet Research: Now Expect That Our Organic ASV Growth Will Be in the Range of $110M to $150M for Fiscal 2024, Reduced From Our Previous Guidance of $130M to $175M.

FactSet Lowered FY24 Revenue Outlook To $2.20B-$2.21B From $2.21B-$2.23B Vs. $2.22B Est., Adj EPS To $15.60-$16.00 From $15.65-$16.15 Vs $16.08 Est.

FactSet Research Systems posted higher revenue and earnings in its fiscal first quarter, lifted by a rising tally of wealth-management users tapping the company’s data platform. The Norwalk, Conn.-based company, whose offerings include analytics and data products, posted a profit of $148.6 million, or $3.84 a share, for the three months ended Nov. 30, compared with $136.8 million, or $3.52 a share, in the same period last year. Stripping out one-time items, including amortization, adjusted earnings came to $4.12 a share. Analysts surveyed by FactSet expected adjusted earnings of $4.11 a share. Revenue rose more than 7% to $542.2 million, compared with the $540.3 million expected by analysts, according to FactSet. Annual subscription value plus professional services was $2.18 billion at the end of the quarter, up from $2.04 billion a year ago. User count rose by 17,111 to 207,083 during the quarter, driven by an increase in wealth management

FactSet Research Cuts FY24 View To Rev $2.2B-$2.21B.

FactSet Research Systems trimmed its fiscal-year targets for revenue and adjusted earnings, and the data company said it plans to cut costs. The Norwalk, Conn.-based company, whose offerings include analytics and data products, is now targeting revenue of $2.2 billion to $2.21 billion, down from prior guidance of $2.21 billion to $2.23 billion. FactSet also cut its outlook for earnings to $13.95 a share to $14.35 a share, down from $14.20 a share to $14.70 a share. The company is targeting adjusted earnings of $15.60 a share to $16.00 a share, down from $15.65 a share to $16.15 a share. The company said it expects to book $10 million to $15 million in charges during its fiscal second quarter tied to cost cuts, including both variable costs and personnel-related costs.